UBank Term Deposit Account

A great fixed rate term deposit to give your savings a boost.

The UBank term deposit doesn't charge any unnecessary fees; there's no setup fees or account fees to worry about. If you decide to reinvest your term deposit when it reaches maturity, you will receive a 0.10% bonus rate on top of the standard interest rate through UBank's loyalty bonus.

The 7 month term offered in the table below are UBank's Green Term Deposits. When you select one of these terms, your deposit will be matched with a range renewable energy projects.

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Product NameUBank Term Deposit Account
3 month interest rate0.45%
4 month interest rate0.40%
6 month interest rate0.45%
7 month interest rate0.35%
9 month interest rate0.35%
12 month interest rate0.35%
Minimum Opening Deposit$1,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

$0 Account keeping fees

You are not charged any monthly account keeping fees on your UBank Term Deposit account.

Small minimum investment of $1,000

You must be able to deposit at least $1,000 to start your term deposit.

Launch term deposit calculator

How to apply

If you appreciate the benefits of the UBank Term Deposit Account, you can visit UBank website and begin filling in your online application.


Before beginning, ensure that you are able to meet their eligibility requirements:

  • Minimum age. Applicants must be at least 18 years old.
  • Residency requirements. You must be an Australian resident for tax purposes living at an Australian residential address.

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    Default Gravatar
    October 2, 2019

    Hi, am I able to deposit regularly into the term deposit during the fixed term?

      Avatarfinder Customer Care
      October 2, 2019

      Hi Greg,

      Thanks for reaching out to Finder.

      No, you cannot make regular deposits to a UBank Term Deposit account. Your deposit must be made within the funding window which is seven (7) calendar days from date of account opening or after Ubank receives your application.

      Please note that if the bank will not receive the minimum balance within the funding window, they may close your account.

      I hope this helps.


    Default Gravatar
    September 9, 2019

    I hope your banking is better than your phone service???? I have been on the phone trying to speak to an opertor for over 37 minutes and I am still on hold!!! Not a good way to inspire confidence in your business…

      Default Gravatar
      September 11, 2019

      Hi Gary,

      Thanks for your message. Sorry to hear that you have been on hold for a long time. While we review UBank in our pages, it’s helpful to know that we neither work with them or answer for their company. It would be best to contact the customer service support of UBank directly for further assistance.

      Hope this clarifies and we hope they find a quick resolution for you!

      With care,

    Default Gravatar
    June 5, 2019

    can I open a u bank term deposit account at a nab bank branch

      Default Gravatar
      June 7, 2019

      Hi Geoff,

      Thanks for your inquiry.

      Unfortunately, you can’t open a Ubank term deposit account at NAB bank branch. To apply for the UBank Term Deposit Account, you can visit UBank website and begin filling in your online application.

      I hope this helps.

      Kind regards,

    Default Gravatar
    February 27, 2019

    Can self-manged super funds open this account?

      Avatarfinder Customer Care
      March 1, 2019

      Hi Ross,

      Thank you for getting in touch with Finder.

      No. However you may check UBank Term Deposit SMSF.

      I hope this helps.

      Thank you and have a wonderful day!


    Default Gravatar
    February 12, 2019

    Could you please advise what the interest rate and the interest amount paid at the end of a 6 month term with $120,000k deposit

      Avatarfinder Customer Care
      February 13, 2019

      Hi Annie,

      Thank you for reaching out to Finder.

      The interest rate for a 6 month term deposit with UBank is 2.75%. The rough estimate on the interest earned is $1,659.48 for compounded monthly and $1,661.33 if compounded daily. You may also visit our term deposit calculator. Of course, since these are just estimated it would be best to reach out to UBank to learn more about how much interest would be paid out at the end of the 6 months. Hope this helps!


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